Have you ever claimed a casino bonus but haven’t been able to withdraw your winnings due to wagering requirements? Or, maybe, you never quite grasped the concept of them and you find them confusing to calculate?
In this helpful guide, we are going to delve into the subject of wagering requirements. While it might not be possible to beat them, we will share our top wagering tips with you. Read on to learn how to work out wagering requirements and find out how to choose the best offers. Follow our advice and you’ll never be left without your winnings!
What Are Wagering Requirements?
First things first! Let’s look into the concept of wagering requirements and their role in the world of online gambling.
A wager is another term for a bet placed on any online slot, casino game, bingo game, poker game or other casino game. When you claim a bonus from a casino, the money you get is paid in bonus money as opposed to real cash. Alternatively, when it comes to free spins, any payouts (aka winnings) you get when you use them are also paid in bonus money. This bonus money is usually kept in a separate wallet and comes with a wagering requirement attached to it.
Because you can’t withdraw bonus money, you will need to complete the wagering requirements (and any other terms attached to the bonus) before you can make a cash withdrawal. Many newbies and seasoned players have trouble comprehending these terms. A wagering requirement is the amount of money (usually a multiple of the bonus amount or bonus winnings) that a player must wager before being allowed to make a cash withdrawal.
Completing the wagering requirements will turn your bonus money into real money. If you don’t meet these wagering requirements, your bonus money will never be converted into real money for withdrawal and will be forfeit.
Are Wagering Requirements Avoidable?
Not in the long run, no. If you don’t want the hassle of wagering requirements, you could always renounce your bonus but we don’t really recommend it.
Although you are constrained by a wagering requirement, a casino bonus boosts your bankroll twofold and sometimes threefold. This gives you more chances to win on that jackpot slot game you love, or else to try the latest slot machine. Before you know it, you’ve met the wagering requirements and you’re free to make a withdrawal. You can also explore low wagering bonuses, as the requirements for worthwhile bonuses can be easier to meet.
The other option would be to claim a bonus with no wagering requirements, such as cashback, or to find a casino that offers Wager-Free Welcome Bonuses (check our list of these below).
What Are Wager-Free Casino Bonus Offers?
Wager-free is exactly what it says on the tin: It’s a bonus offer without any wagering requirements attached to it. The real beauty of these offers is the fact that you can withdraw any wins right away without any delays.
Although they might be on the smaller side, and you might have to make a deposit prior to taking advantage of them, the big plus is that the wins are paid in real cash. They can come in the shape of:
- Wager-free spins
- Wager-free deposit bonuses
- Cashback
The allure of these offers is well-known by the casino operators, so it’s no surprise that many casinos promote wager-free offers. The great news is that any winnings made from said bonus offers or free spins can be withdrawn right away, although many casinos do request that you make a deposit prior to a withdrawal.
How to Mathematically Calculate the Wagering Requirement of a Casino Bonus
This is the boring part but it’s essential for you to understand how wagering requirements work and how to pick a casino bonus that best fits your bankroll.
Imagine a new online casino has piqued your interest and you proceed to sign up. There are a couple of different factors that will determine how you can calculate the wagering requirements (i.e. how much you have to play before you can withdraw):
- Firstly, it will depend whether or not the welcome bonus is a free spins bonus or a deposit match offer.
- Secondly, it matters whether or not the deposit amount is included or excluded from the wagering requirements.
How to Calculate Wagering on Deposit Bonuses
Excluding Deposit Amount
If you claim a 300% casino bonus and the wagering requirements exclude your deposit, you only need to calculate the requirements based on the bonus you receive. Let’s say the casino is rewarding you with £60 in bonus money when you make a deposit of £20, with a wagering requirement of 5x. This is exactly how it works:
Example: £60 (Bonus) x 5 (Wagering) = £300
Including Deposit Amount
Now, let’s imagine that for you to meet the wagering requirements, you must also include your deposit as well. Using the previous example, it would work like this:
Example: £20 (Deposit) + £60 (Bonus) x 5 (Wagering) = £400
How to Calculate Wagering on Free Spins
If you claim a free spins offer, you will normally need to work out the requirements based on how much you win. Let’s imagine you’ve claimed 20 free spins with a 10x wagering requirement and you won £5 whilst playing:
Example: £5 (Free Spins Wins) x 10 (Wagering) = £50
Where Can I Learn More About a Casino Bonus’ Wagering Requirement?
Thanks to a number of laws and regulations ensuring that wagering requirements are more visible, players should now have access to all relevant information.
Make sure to always read the fine print. Usually, the full T&Cs are found by clicking a link in the promotional e-mail or by visiting the promotions page.
If, for some reason or other, you are unable to find the stipulated amount for the wagering requirement, go to the terms and conditions page or else speak to Customer Support. This way, you will make sure that you know what you’re opting for, before parting with your money.
How Do I Beat Online Casino Wagering Requirements?
We have explained how to calculate wagering requirements in order to make a withdrawal. Now, you can follow the below advice to make sure you get the most out of your online casino adventure.
Do Your Research and Pick the Right Casino
If you’re here, you’re in the right place. However, before signing up to an online casino make sure that it’s licensed by a reputable gaming authority. A licensed casino adheres to a number of laws and regulations that include, amongst other things, high-level security and trustworthiness.
Luckily for you, we have done all the research for you. We only promote trusted online casinos that have gone through our rigorous tests.
Read the Fine Print
Any reputable online casino must adhere to the strict conditions posed by the gaming authority. One of these conditions is to have the relevant terms and conditions clearly displayed. Here, you should be able to find important information regarding your bonus. Things you should check include:
- The minimum deposit
- The wagering requirement of the offer
- The winning cap
- The time limit
- Eligible games
- The bonus bet limit
Sign Up and Play
If you are happy with what you’ve seen, then your next step is to register for an account and to make a deposit to receive your bonus.
ID?
This applies to most online casinos, plenty of sites do ask you for some form of identification before allowing you to make a cash withdrawal. This could be anything from your passport or a driving licence. Some even ask for a copy of your latest utility bill as proof of your home address.
Best Slots to Complete Wagering Requirements On
One of the best things you can do when trying to complete your wagering requirements is to make sure you choose the right game. Casinos tend to add ‘weightings’ to different types of games when it comes to wagering requirements. For example, at many casinos, any bets you make on table games or live games will only count 10% towards completing the wagering.
Slots are the perfect choice! Most casinos have a 100% weighting on slots, which means that all the money you bet on slots will count towards completing your wagering requirements. It’s best to choose low or medium volatility slots as, with a high volatility slot, you can end up losing your funds pretty quickly. Having said that, it’s all down to chance.
We hope you have found this guide useful! If you’re ready to put your newfound knowledge about wagering requirements to the test, why not check out some of our top bonus offers now?
